TiềnẢoThần's Profile

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Ethereum has increased by more than 140% since the US presidential election in November, but has yet to surpass the historical peak from March 2024.

Capital inflows from institutions into Ethereum ETF funds have surged. The trading volume of these funds increased by about 300% compared to September and October.

The November chart shows a rising wedge pattern forming. Once this pattern completes, significant price volatility may occur.

If capital inflows from institutions continue, Ethereum could surpass its previous peak, following a trend similar to Bitcoin recently.

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The ERC-20 stablecoin reserves on Binance have undergone notable fluctuations:

- Decrease and Recovery: Reserves dropped to 7 billion USD in 2023 but surged 300% to 28 billion USD in 2024, reaching a new all-time high.

- Role of Binance: As the largest cryptocurrency exchange, Binance is a liquidity hub, attracting traders and institutions for transactions, storage, and trading of stablecoins.

- Market Sentiment: The increase in reserves indicates restored confidence, with trading and staking activities on the rise.

This is a positive signal for the crypto market and reinforces Binance's role in the ecosystem!

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Bitcoin approaches the 100k mark, whales continue to accumulate and hold their positions. This indicates that market sentiment remains optimistic and confident.

Two important indicators to pay attention to:
- Total whale balance: Provides an overview of whether whales are increasing or decreasing their holdings over time.
- Monthly percentage change of whale balance: Helps to better understand whether whales are accumulating or selling in the short term.

Monitoring whale activity provides valuable insights into investor confidence and market sentiment.

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The cryptocurrency market is undergoing a slight correction with the aSOPR index at 1.06 and NUPL at 0.62, along with 96% of the supply in profit. On-chain indicators suggest that the market is in a cooling phase. This could be an opportunity for new investors to join. History shows that periods of excitement often follow active participation from these newcomers.

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Bitcoin has just recorded the largest withdrawal from exchanges since December 2022, marking the strongest Bitcoin outflow ever. This may indicate that the bullish market trend has not yet ended.

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Bitcoin has risen from around $60,000 to $100,000 in the past few months, pushing the realized price from around $31,000–$32,000 to $37,000. This suggests:

- New capital inflows: Higher realized prices reflect new entrants, indicating growing confidence in Bitcoin.

- Stronger cost base: Rising average purchase costs reinforce market support during corrections.

- Declining selling pressure: Long-term holders appear to be holding back, reducing selling liquidity.

While the gap between the market price and realized price may signal short-term overheating, history shows that this has not deterred price growth in previous rallies. Watch carefully to assess the sustainability of this rally.

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A sharp increase in the supply of bitcoin from funds relative to the supply on exchanges typically signals the start of a new bull market. Currently, the supply from funds is still pushing the price of bitcoin higher.

However, if funds stop buying bitcoin, this bull market could end.

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Ethereum price has recovered at the key $3.5K support level, maintaining the uptrend. However, the futures market shows a worrying divergence that could have a major impact on market momentum.

Open interest, which tracks the total number of open futures positions across all exchanges, has hit a new record high. This shows unprecedented speculative activity in the Ethereum derivatives market.

This increase occurred without a new record high for Ethereum, raising concerns about increased volatility and large liquidations. If Ethereum price suddenly drops, highly leveraged positions from futures traders could trigger a wave of forced liquidations, leading to a rapid price decline.

ETH

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Bitcoin’s recent surge in price has pushed Open Interest and BTC price to record highs as it approaches the 100K mark. The surge in Open Interest was mainly due to a surge in leveraged positions. However, as these positions grew too quickly, the market corrected, with Bitcoin price dropping 9%, leading to leveraged position liquidations. Following this event, the 7-day percentage change in Open Interest dropped sharply, approaching its low. This may make the market healthier, but liquidation events may occur before Bitcoin challenges the psychological resistance of 100K. Tracking this metric helps with long or short positioning and provides insight into global investor behavior.

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The flow of Bitcoin on Binance from 2017 to 2023 shows a strong accumulation by "whales". However, since November 2023, the amount of BTC going into Binance has exceeded the amount going out, indicating increased selling pressure.

Interestingly, even though more BTC is coming in than going out, the price of Bitcoin is still rising. This suggests that "whales" may be taking advantage of the price surge to cash out after holding for a long time.

After the Bitcoin ETF launched, the influx of BTC into Binance surged, indicating that large traders are taking the opportunity to sell at high prices. For "whales", this could be the perfect opportunity to offload their holdings, capitalizing on market attention towards Bitcoin.

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The price of TON is rising again, with the 90-day profit turning positive.

History shows that whenever this index is positive, the price usually rises sharply.

This indicates that investors are regaining confidence and are willing to hold their positions, expecting higher profits as the uptrend continues.

In addition, the percentage change in Open Interest has also turned positive.

The current uptrend may continue.

TON

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Binance has overcome legal pressure from the US, losing significant market share in the spot crypto market by mid-2023. However, since the end of 2023, Binance has begun to regain market share, benefiting from the upward trend in 2024. Currently, Binance accounts for over 31% of total trading volume, reaffirming its leading position.

What does this mean for the crypto market? Binance's return strengthens the current price momentum, playing a crucial role in maintaining and potentially enhancing this trend. Binance's recovery not only demonstrates the strength of the exchange but also contributes significantly to the current and future momentum of the crypto market.

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BTC flows from other exchanges to Binance are at record lows, indicating positive changes and growing confidence among traders.

1️⃣ Liquidity integration: Binance is the largest exchange by global trading volume, no need to transfer BTC to access liquidity. Many traders prefer to operate directly on Binance.

2️⃣ Stablecoin usage: USDT, USDC usage is increasing, many investors are less dependent on BTC as an intermediary asset between exchanges.

3️⃣ Confidence in Binance: Previously, large amounts of BTC moved to Binance when the market was down, signaling panic. Now, the reduced flow reflects greater confidence in Binance and the market.

This is not a sign of weakness but stability and confidence in Binance.

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The amount of Ethereum on exchanges has dropped to its lowest level since 2016, despite the current low price of ETH. This shows that many investors still see Ethereum as a safe haven and continue to accumulate. Meanwhile, the circulating supply of Ethereum continues to increase, reflecting long-term confidence in the coin's potential.

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OKX and Binance are having interesting movements in the crypto market. Recently, OKX has been showing a strong selling trend with a negative funding rate (FR), especially when the price is at its peak. Meanwhile, Binance has been showing a strong buying trend with a positive FR when the price is at its bottom. The increase in open interest and the number of users are driving these changes. Pay attention to these signals to capture opportunities in the market.

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Short-term investors dump nearly $4 billion worth of Bitcoin, giving whales a chance to accumulate.

On Tuesday, whales' holdings increased by nearly 16,000 BTC, or about $1.5 billion.

This figure reflects institutional addresses, but many coins may still be on exchanges.

Currently, there is not enough buying volume to create a broad "buy the bottom" trend, which is mainly concentrated among institutions.

More buying volume from both retail and institutional investors is needed to reach a new high.

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Ethereum co-founder Jeffrey Wilcke just made a big move in the crypto space by depositing 20,000 ETH, worth $72.2 million, into Kraken. The transaction took place at an average price of $3,608 per ETH.

Previously, in May 2024, Wilcke transferred 10,000 ETH worth $37.3 million into Kraken, right before the market took a big dive.

Currently, Wilcke still holds 106,006 ETH, worth about $384 million.

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Ethereum is surging, raising investor optimism as the price surpasses key resistance levels. Many expect the price to reach new highs by the end of the year.

The futures market indicates that funding rates have risen significantly over the past few weeks, reflecting the optimistic sentiment of investors and traders as Ethereum's price increases.

Although funding rates are rising, they are still lower than Ethereum's previous peak of $4.9K. This indicates that the market has upward momentum but is not overly heated yet.

History shows that spikes in funding rates often lead to market corrections. However, the current level suggests there is still room for price and sentiment to continue growing before risks become severe.

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